AT&T is asking 40,000 of its unionized workers to accept cuts to their benefits, the elimination of paid sick days and reduced pensions as they negotiate a new labor contract. Demanding those kinds of concessions isn't showing much gratitude for the union's support of AT&T's failed takeover bid of T-Mobile, their union says.
While AT&T is still a profitable business, WSJ reports, it's looking to cut costs in its landline business, which is seen as something of an albatross as demand for wireless grows and more people cut the cord to their landlines.
Workers say they may strike if AT&T doesn't back down from demands like doubling healthcare premiums to $70 a month. AT&T says that the salaries of its network technicians, who average $90,000 in wages and $43,000 in benefits a year, is unsustainable. (WSJ)
Relume Technologies, Inc. plans to hire up to 70 new employees this year to expand its light-emitting diode (LED) lighting business. The Oxford, Mich.-based company currently has 60 employees and raised $7 million in new financing in January.
Pushed Out (AllThingsD)
The departure of Foursquare co-founder Naveen Selvadurai isn't as amicable as has been reported. As the company grew larger, Selvadurai found himself without a day-to-day operations role at the company.
Buyback (Business Insider)
Employees at cloud storage company Dropbox are getting a chance to cash in on their stock with a secondary market sale. As of October, the company had 70 employees.
Locked Up (WSJ)
The federal government arrested six alleged members of the hacker group LulzSec yesterday with the help of a group member who became an informant. The arrests are likely to breed mistrust among the secretive outlaw collective.
Getting Bigger (NYT)
The resurgence of Seattle's tech scene is helping real estate developers and brokers cash in. Led by Amazon's plan to double its office space, the city has seen vacancy rates drop and job postings go up.
Old, For Tech (HuffPo)
For young start-up chief executives, there are benefits and challenges to hiring employees over the age of 40. They might not be as willing to pull all-nighters, but they're often more consistent.
Job Creators (WSJ)
Small companies that rely heavily on technology create jobs a lot faster than those that don't, according to a new report. Tech-savvy service companies grew their staffs at a rate of 5.1% while everywhere else employment dropped by 0.5%.
In the telecom wars, Verizon Wireless could get a big boost from the iPad announcement today. The device is rumored to support the next-generation broadband technology LTE, which Verizon has more of than anyone else.
Buzz Around the Office
Lucy Blodgett, an assistant editor at the Huffington Post LA, tries out Sprinkles' new cupcake vending machine.
List of the Day: Funny Bone
Don't be afraid to toss out some career-related humor to show your interviewer you've got a personality.
1. A well-timed punch line can ease the natural tension of a job interview.
2. A joke may help offset potential disapproval over a long period of unemployment on your resume.
3. Don't force it or things could get awkward.
(Source: CBS MoneyWatch)